Reliance Communication (RCOM) reported a net loss of Rs 130 crore for the quarter ended December 31, 2017. This is an improvement from the previous quarter (ended September 30), when losses were Rs 2,712 crore, the company informed BSE. The company mentioned that this sharp drop of over 95 per cent in quarterly losses was due to their planned exit from consumer business, which comprised of wireless, direct to home and PCO. RCOM’s disinvestment of the its wireless network was enabled by Mukesh Ambani’s Reliance Jio, which bought RCOM’s wireless infrastructure assets that includes towers, optic fibre cable network, spectrum, and media convergence nodes in an all-cash deal. Some highlights from financials The company’s new business portfolio reported consolidated revenues of Rs 1,305 crore in the December quarter. Of this, Indian operations’ revenues contributed Rs 596 crore or 45.7%, while global operations’ revenue contribution stood at Rs 709 crore or 54.3%. There was a quarter over quarter (QoQ) increase in total revenue of 2.1 per cent. RCOM’s total earnings before interest, taxes, depreciation, and amortization (EBITDA) in this quarter were Rs 252 crore, an increase of 5.9 per cent QoQ. Indian operations’ EBITDA stood at Rs. 95 crore; while global business contributed EBITDA of Rs. 157 crore. Further, RCOM also recorded an increase in profit after tax (PAT) in its new business portfolio by 28.6 per cent, touching Rs 27 crore this quarter. RCOM’s new business portfolio comprises Business to Business (B2B) operations namely Global and Indian enterprise, internet data centres…
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